Monday, February 15, 2010

Your E-Filed Tax Return Will Be Rejected

Yes people in the blogsphere, your tax return will be rejected by the IRS if it contains one of the following errors:

Making Work Pay Credit (MWPC) – the MWPC will cause your return to be rejected if you are not sure if you received the credit or not. Most tax software will assume that you did receive the credit based on your age and other factors, but taxpayers and their tax preparers should contact the Social Security Administration to confirm that the credit was actually received. Another way to find out is to go back and look at your bank statements around May of last year and see if there was a deposit for $250.

First Time Homebuyer Credit (FTHBC) – The FTHBC can only be claimed on returns that are paper filed. If you are a taxpayer that is trying to claim this credit, you will need to attach additional documents to your return to adhere to the more strict guidelines set forth by the IRS.

For more information regarding these credits or other issues that may delay your tax return, be sure to stop by our website.

The Tech Accountant
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